St Remy De Provence, 13210 France
Phone: +33.6.8068.4564
Email: wbacon@hammersmith.biz
WWW: hammersmithltd.blogspot.com
This week was a holiday week in the USA with Friday closed for Juneteenth Day which commemorates the final day of enslavement for African Americans in the USA as was ended finally in Texas on June 19, 1865. The Emancipation Proclamation was issued in the USA on January 01, 1863 but it took some time to be applied nationwide, as was seen with Texas.
WEEKLY USA GRAIN AND PROTEIN REPORT – June 20, 2026
Market situation for the week.
· US corn prices up by about USD 2 m/t
· US soybean prices up by about USD 4 m/t
· US soymeal prices drop by about USD 2 m/t
· US winter wheat up by as much as USD 7 m/t
· US spring wheat – up by about USD 2 m/t
Most grain prices were up a little this week after quite a long period of slipping lower every week. However, while the week was up the markets all moved lower on Thursday in advance of the three-day weekend.
According to reports, the near drought conditions for US grain and oilseed crops seems to have come to an end with decent rainfall. Only areas in the Ohio River Valley and parts of the Mid-South look to still be too dry.
Looking at year-to-date export sales, corn exports are up by about 24% with wheat exports up by 21% while poor old soybeans are down by 19%. Soymeal is up by 17% but the real rally is in sorghum export shipments which are up by 212%, the majority of the sorghum exports, over 95%, went to Spain.
Of course, there has been lots of talk on the USA/Iran agreement and the possible effect on grain and oilseed prices and on future costs ---- will fuel and fertilizer get back down to pre-conflict levels quickly. An “expert” on CNN said today that the world’s fuel reserves have been drawn down so much and so many facilities damaged that it could take until 2030 to rebuild fuel reserve ----- not too good a thought..
Estimated Bulk Grain Freight in USD per MT, basis heavy grains.
US Gulf to Europe: Panamax
|
$27.00
|
Steady
|
$27.00
|
Steady
|
|
US Gulf Israel: Panamax
|
$44.00
|
Steady
|
US Gulf to Egypt: Panamax
|
$44.00
|
Steady
|
US Gulf Turkey: Panamax
|
$45.00
|
Steady
|
US Gulf Morocco: Handi
|
$44.00
|
Steady
|
US Gulf Algeria/Tunisia: Handi
|
$45.00
|
Steady
|
$51.00
|
Steady
|
|
US Gulf other Med: Handi
|
$46.00
|
Steady
|
US Gulf South Africa: Handi
|
$52.00
|
Steady
|
US Gulf India : Panamax
|
$52.00
|
Steady
|
US Gulf to Philippines: Panamax
|
$52.00
|
Steady
|
US Gulf Japan: Panamax
|
$72.00
|
Steady
|
US Gulf China: Panamax
|
$70.00
|
Down $1.00
|
US PNW Egypt: Panamax via Panama
|
$50.00
|
Down $2.00
|
US PNW South Africa – 40,000 MT
|
$61.00
|
Steady
|
US PNW Philippines: Panamax
|
$36.00
|
Steady
|
US PNW Japan: Panamax
|
$37.00
|
Steady
|
US PNW China: Panamax
|
$35.00
|
Steady
|
US East Coast Nigeria: Handisize
|
$41.00
|
Steady
|
US Lakes – Europe – 30,000 MT
|
$59.00
|
Down $1.00
|
US Lakes – Morocco – 30,000 MT
|
$65.00
|
Down $1.00
|
|
|
|
France/Germany to Algeria: Handi
|
$33.00
|
Steady
|
France/Germany to Bangladesh 40,000 MT
|
$56.00
|
Steady
|
France/Germany to China: Panamax
|
$70.00
|
Steady
|
France/Germany to Egypt: Panamax
|
$32.00
|
Steady
|
France/Germany to India: Panamax
|
$59.00
|
Steady
|
France/Germany to Iran: Panamax
|
N/A
|
|
France/Germany to Jordan: Panamax
|
$41.00
|
Steady
|
France/Germany to Morocco: Handi
|
$32.00
|
Steady
|
France/Germany to Saudi Arabia: Panamax
|
$65.00
|
Steady
|
France/Germany to Turkey: Handi
|
$35.00
|
Steady
|
France/Germany to Yemen: Handi
|
$66.00
|
Steady
|
|
|
|
Argentina to Algeria: Handi
|
$45.00
|
Up $1.00
|
Argentina to China: Panamax
|
$56.00
|
Steady
|
Argentina to Japan: Panamax
|
$57.00
|
Steady
|
Argentina to Egypt: Panamax
|
$54.00
|
Steady
|
Argentina to Europe: Panamax
|
$43.00
|
Steady
|
Argentina to Morocco: Handi
|
$44.00
|
Up $1.00
|
Argentina to Libya: Handi
|
$46.00
|
Up $1.00
|
Argentina to Jordan: Panamax
|
$58.00
|
Steady
|
Argentina to Saudi Arabia: Panamax
|
$65.00
|
Steady
|
Argentina to Iran: Panamax
|
N/A
|
|
Argentina to Indonesia: Panamax
|
$60.00
|
Steady
|
Argentina to South Africa: Panamax
|
$38.00
|
Steady
|
Argentina to Kenya: Handi
|
$57.00
|
Steady
|
Argentina to Spain: Panamax
|
$43.00
|
Steady
|
Argentina to Tunisia: Handi
|
$45.00
|
Up $1.00
|
|
|
|
Brazil to Algeria/Tunisia: Handi
|
$37.00
|
Steady
|
Brazil to China: Panamax
|
$55.00
|
Steady
|
Brazil to Japan: Panamax
|
$56.00
|
Steady
|
Brazil to South Korea: Panamax
|
$58.00
|
Steady
|
Brazil to Europe: Panamax
|
$37.00
|
Steady
|
Brazil to Morocco: Handi
|
$36.00
|
Steady
|
Brazil to Iran: Panamax
|
N/A
|
|
Brazil to Saudi Arabia 30/40,000 MT
|
$64.00
|
Steady
|
Brazil to Spain: Panamax
|
$37.00
|
Steady
|
Brazil to Turkey/Egypt: Panamax
|
$59.00
|
Steady
|
|
|
|
Australia to Saudi: Panamax
|
$43.00
|
Steady
|
Australia to Europe: Panamax
|
$55.00
|
Steady
|
|
|
|
South Africa to Italy -- Handisize
|
$46.00
|
Steady
|
South Africa to Turkey – Handisize
|
$47.00
|
Steady
|
South Africa to Japan – Handisize
|
$43.00
|
Steady
|
South Africa to China -- Handisize
|
$43.00
|
Steady
|
|
|
|
Black Sea freight
|
|
|
Black Sea to China: Panamax
|
$47 Russia
|
Ukraine $57
|
Black Sea to Indonesia: Panamax
|
$59 Russia
|
Ukraine $65
|
Black Sea to Bangladesh: Panamax
|
$47 Russia
|
N/A
|
Black Sea to Egypt: 40/50,000
|
$18 Russia
|
Ukraine $28
|
Black Sea to Egypt: 30,000
|
$18 Russia
|
Ukraine $27
|
Black Sea to Iran: Panamax
|
$64 Russia
|
Ukraine $72
|
Black Sea to Europe: Panamax
|
$28 Russia
|
Ukraine $24
|
Black Sea to East Spain -- Panamax
|
$24 Russia
|
Ukraine $18
|
Black Sea to Morocco – Handi
|
$29 Russia
|
Ukraine $29
|
Black Sea to Tunisia/Algeria – Handi
|
$28 Russia
|
Ukraine $28
|
Black Sea to Jordan: Panamax
|
$29 Russia
|
Ukraine $30
|
Black Sea to Libya – Handi
|
$29 Russia
|
Ukraine $29
|
Black Sea to Saudi: Panamax
|
$62 Russia
|
Ukraine $57
|
Black Sea to Turkey – Handi
|
$22 Russia
|
Ukraine $28
|
Black Sea to South Africa – Handi
|
$55 Russia
|
N/A
|
Black Sea to Nigeria – Handi
|
N/A
|
Ukraine $45
|
|
|
|
Russia to Turkey (Izmir)– coaster 5,000 MT
|
$24.00
|
Down $2.00
|
Russia to Egypt – coaster 5,000 MT
|
$42.00
|
Down $4.00
|
Ukraine to Turkey – coaster 5,000 MT
|
No info
|
|
Ukraine to Egypt – coaster 5,000 MT
|
No info
|
|
|
|
|
|
|
|
Baltic Dry Index
40% Capesize, 30% Panamax, 30% Supermax
|
2722
|
Down 7
|
Baltic Capesize Index
|
4149
|
Up 42
|
Baltic Panamax Index
|
2096
|
Down 187
|
Baltic Supramax Index
|
1718
|
Up 76
|
Baltic Handisize Index
|
934
|
Up 34
|
|
|
|
Freightos/Baltic Container Index
|
3418
|
Up 521
|
|
|
|
|
|
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR July 2026/September 2026
Wheat, USA Soft Red Winter, US Gulf
|
USD 252<<266 Oct
|
Wheat, USA Hard Red Winter 11 protein, US Gulf
|
USD 288<<298 Oct
|
Wheat, Ukraine 11.5 pro, 30,000+ MT
|
USD 230<<235
|
Wheat, Russia 12.5 pro, 30,000+ MT
|
USD 235<<240
|
Wheat, Romania 12.5 pro
|
USD 235<<240
|
Wheat, Superior, France
|
No prices
|
Wheat, milling, 12.0%, Argentina, Upriver
|
USD 235<<240
|
Wheat, feed, Black Sea
|
USD 225<<230
|
|
|
Barley, France, Rouen port
|
No prices
|
Barley, feed, Argentina, upriver
|
USD 230/235
|
Barley, feed, Black Sea, 30,000+
|
USD 230/235
|
Barley, feed, Australia
|
USD 275/280
|
|
|
Corn, 2YC FOB NOLA USA
|
USD 205<<220
|
Corn, 3YC FOB USA Pacific northwest
|
USD 215<<230
|
Corn, FOB Argentina port, upriver
|
USD 205<<210
|
Corn, FOB Brazil port
|
USD 210>>220
|
Corn, FOB France
|
USD 253/256 Spot
|
Corn, FOB Romania
|
USD 240<<245
|
Corn, FOB Russia
|
USD 230>>235
|
Corn, FOB Ukraine, 30,000+ MT
|
USD 225<<230
|
Sorghum, FOB Argentina port
|
USD 235<<240
|
Sorghum, FOB Texas
|
USD 212<<215
|
|
|
Soymeal, 48% protein, FOB NOLA
|
USD 370<<375
|
Soymeal, 48% protein, USA, Rotterdam
|
USD 400<<405
|
Soymeal, 47% pro, FOB Argentina
|
USD 340>>335
|
Soymeal, 48% protein, FOB Brazil
|
USD 330<<335
|
|
|
Soybeans, FOB NOLA
|
USD 450<<460
|
Soybeans, Argentina, FOB
|
USD 425<<455
|
Soybeans, Brazil, FOB
|
USD 445<<465
|
Soybeans, Black Sea
|
USD 435<<445
|
|
|
Corn Gluten Meal, USA FOB NOLA
|
USD 640<<650
|
Corn Gluten Feed, USA FOB NOLA
|
USD 180<<185
|
DDGS corn, 35 profat, USA FOB NOLA
|
USD 218<<225
|
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Central/North Peru details: Quota 1,914,000 m/t, landed 470,300 m/t, fishmeal produced 116,900 m/t, fishoil produced 7,550 m/t --- balance on quota 1,443,800 m/t.
South Peru details: Quota 251,000 m/t, landed 157,330 m/t, fishmeal produced 35,500 m/t, fishoil produced 3,360 m/t --- balance on quota 93,670 m/t.
( fishmeal and fishoil production is estimated)
While there is no fishing, all attention is on El Nino events and every El Nino report that is issued from everywhere. So, this week, it looks like a strong El Nino is Peru for November 2026 through January 2027 ---- no one seems to be at all certain what effect this may have on fishing during that time but everyone is watching and reading.
Prices remain high with Super Prime said to be steady at around USD 3000 m/t but some reports do see prices higher perhaps by USD 100 to 300 m/t. Tough to know but most reports seem to be looking at prices in China and working backwards to determine possible Peru price.
There has been talk that there could still be fishing in July which could, we all hope, cover the sales that have been made to date ---- actual sales look to be about 183,000 m/t but production is only 152,400 for all regions. One wonders what percentage of the sales booked are for higher grades of fishmeal which could make the shortfall by type worse than the overall shortfall.
European fishmeal prices – FOB North German port.
Type
|
Protein %
|
Price per
MT USD
|
Standard Herring
|
64% protein
|
$2115
|
Danish standard fishmeal
|
71% protein
|
$3320
|
Peru fishmeal
|
65% protein
|
$2950
|
Chile fishmeal
|
67% protein
|
$2850
|
Iceland fishmeal
|
71% protein
|
$3405
|
ALL PRICES SHOWN ARE IN CONTAINER, ON VESSEL, AT ORIGIN --- US DOLLARS
Minimum shipment of 200 MT for fishmeal
Specification
|
Price per MT FOB Vessel Peru port
|
Price per MT
Chile port
|
|
Next fishing season
|
|
65% protein standard steam
|
2650/2670
|
|
66% protein 120 TVN
|
2700/2720
|
|
67% protein 150 TVN
|
2800/2820
|
|
67% protein 120 TVN
|
2880/2900
|
2880/2900
|
67% protein 1000 hist, 120 TVN
|
2920/2940
|
2910/2930
|
68% protein 500 hist, 100 TVN
|
2970/2990
|
2950/2970
|
|
|
|
Fish oil, crude bulk – feed grade
|
7500/7700
|
6400/6500
|
Fish oil, crude in drums
|
No prices
|
No prices
|
Fish oil, flexi tank
|
No prices
|
No prices
|
Fish oil, Omega 3: 28%EPA/DHA
|
10,000+
|
No prices
|
INFORMATION: TVN = total volatile nitrogen, hist = histamine
Copyright © 2026 Wayne S. Bacon
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